The Analysts gives Consensus Recommendation of “Hold” to Occidental Petroleum Corp. (NYSE:OXY)

The Analysts gives Consensus Recommendation of “Hold” to Occidental Petroleum Corp. (NYSE:OXY)

Occidental Petroleum Corp. (NYSE:OXY) has been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are covering the firm. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $76.53.

A number of equities analysts recently issued reports on OXY shares. Mizuho started coverage on shares of Occidental Petroleum Corp. in a research report on Wednesday. They set a “buy” rating and a $83.00 target price on the stock. Credit Agricole SA reaffirmed a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Morgan Stanley lowered shares of Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $58.24 to $70.00 in a research report on Monday, June 13th. They noted that the move was a valuation call. Credit Suisse Group AG reaffirmed a “hold” rating and set a $72.00 target price on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. Finally, Deutsche Bank AG lowered shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price on the stock. in a research report on Friday, August 5th.

In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 9,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $77.64, for a total transaction of $698,760.00. Following the transaction, the director now directly owns 1,673,119 shares in the company, valued at approximately $129,900,959.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen I. Chazen sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $73.95, for a total transaction of $369,750.00. Following the transaction, the director now owns 1,745,119 shares in the company, valued at $129,051,550.05. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Occidental Petroleum Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 50,130,699 shares of the company’s stock worth $3,787,876,000 after buying an additional 1,107,501 shares during the last quarter. State Street Corp increased its position in Occidental Petroleum Corp. by 2.5% in the first quarter. State Street Corp now owns 35,055,615 shares of the company’s stock worth $2,398,854,000 after buying an additional 849,827 shares during the last quarter. BlackRock Fund Advisors increased its position in Occidental Petroleum Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 15,903,689 shares of the company’s stock worth $1,201,683,000 after buying an additional 846,938 shares during the last quarter. Wellington Management Group LLP increased its position in Occidental Petroleum Corp. by 11.1% in the first quarter. Wellington Management Group LLP now owns 13,704,842 shares of the company’s stock worth $937,822,000 after buying an additional 1,367,898 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Occidental Petroleum Corp. by 1.4% in the second quarter. Franklin Resources Inc. now owns 11,651,278 shares of the company’s stock worth $880,371,000 after buying an additional 158,564 shares during the last quarter. Institutional investors own 80.80% of the company’s stock.

Occidental Petroleum Corp. (NYSE:OXY) opened at 73.54 on Monday. The firm’s 50-day moving average is $74.19 and its 200 day moving average is $74.42. Occidental Petroleum Corp. has a 1-year low of $58.24 and a 1-year high of $78.48. The firm’s market cap is $56.18 billion.

Occidental Petroleum Corp. (NYSE:OXY) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.18). Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Occidental Petroleum Corp.’s revenue was down 27.0% compared to the same quarter last year. On average, equities analysts forecast that Occidental Petroleum Corp. will post ($0.71) earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 9th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, December 7th. This represents a $3.04 dividend on an annualized basis and a yield of 4.13%. Occidental Petroleum Corp.’s payout ratio is presently -29.57%.

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